ExxonMobil missed Wall Street estimates for second-quarter profit on Friday, despite notching its biggest quarterly profit in four years amid higher oil prices and improved refining margins driven by the ongoing U.S.-Israeli war with Iran.Adjusted earnings rose 67% from the first quarter to $14…
Dutch geological data specialist Fugro said on Friday the offshore wind downturn has yet to bottom out and that a recovery was not expected before 2027, sending its shares down around 10%.The company said uncertainty remained high due to weak…
France has selected five ports to receive nearly $300 million (€260 million) in funding under the France 2030 investment program to support infrastructure upgrades for the country's floating offshore wind industry.The projects, located at the ports of Cherbourg…
DOF Group has secured long-term contract extensions with Petrobras for the Skandi Buzios and Skandi Recife pipelay support vessels (PLSVs), extending both contracts into January 2028.Following negotiations with Petrobras, Skandi Buzios was awarded a 516-day extension…
Shell has agreed to sell its wholly owned subsidiary BG Cyprus to MOL Group for up to $720 million, giving the Hungarian energy company a 35% stake in Cyprus' Aphrodite offshore gas field.The transaction, which is subject to customary adjustments…
BP has launched a process to market its North Sea business for a potential sale as part of its ongoing portfolio review.The company said the decision reflects its disciplined approach to capital allocation and forms part of its strategy to create a simpler…
DOF Group ASA has been awarded firm contracts with a duration of more than 1 year and expected commencement in Q1 of 2027 for two of its AHTS vessels. The expected value of each contract is Significant, which DOF defines as contracts with value between USD$15 and 25 million.
Rosenxt Holding USA LLC, part of the Rosenxt Group, announced the acquisition of Zupt LLC, a Houston-based specialist in subsea metrology, advanced 3D subsea inspection, offshore survey engineering along with and technologies supporting renewable offshore installations…
EU antitrust regulators have extended their deadline on whether to clear Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 by about three weeks, according to a European Commission filing.The Commission, which acts as the EU competition enforcer…
New Zealand has awarded its first new offshore petroleum exploration permit since the government reversed a ban on offshore oil and gas exploration, granting EnZed Energy rights to explore a prospect in the offshore Taranaki Basin.The 12-year petroleum exploration permit…
CS Wind has delivered the first transition pieces for Vattenfall's Nordlicht offshore wind project, marking the start of shipments to what is set to become Germany's largest offshore wind development.The transition pieces were loaded out from…
Shearwater Geoservices has been awarded a contract to conduct a 3D seismic survey to support appraisal of carbon storage potential in the Bonaparte Basin offshore northern Australia.The survey is scheduled to begin in the third quarter of 2026…
Azule Energy, jointly owned by Eni and BP, has started construction of the topside process modules for the Greater PAJ floating production, storage and offloading (FPSO) vessel, with the first steel cutting ceremony held at Haiyang CIMC Raffles' Haiyang yard in China…
A drone caused the fire that engulfed two gas vessels at Egypt's Mediterranean port of Damietta, the Egyptian cabinet said on Thursday, confirming for the first time that the blaze which erupted a day earlier was the result of an attack rather than an accident…
BP has started production from its Atlantis Major Facility Expansion project in the U.S. Gulf of America, adding new water injection capacity to boost oil recovery and extend the life of one of the company's flagship offshore assets.The project adds two new subsea water injection wells…